中国制造业对外直接投资的动机及区位选择

发布时间：2018-03-02 02:03

本文关键词： 制造业对外直接投资区位选择　出处：《上海社会科学院》2016年硕士论文　论文类型：学位论文

【摘要】：当前世界经济持续脆弱复苏,尤其是金融危机爆发后,无论是发达国家还是发展中国家及新兴经济体,都把再工业化战略作为重振制造业的核心,后者又成为全球经济竞争的焦点。目前我国制造业规模已跃居世界第一位,形成了若干具有国际竞争力的优势产业和骨干企业。中国制造业实力的增强促使企业进行对外直接投资拓展国际市场。其中区位是承载投资产业的主体,区位选择是对外直接投资获取收益、获得扩张的重要条件。在这样的大背景下,本研究立足于探究我国制造业对外直接投资区位选择的问题,具有重要的时代意义。本文梳理了已有的国际直接投资理论、区位选择理论,并结合我国制造业对外直接投资的不同动机,构建了以投资动机—区位因子—区位条件—区位选择为逻辑主线的区位选择分析框架。在大量统计数据中整理出近年来我国制造业对外直接投资存量、流量和投资区域的变化趋势,总结了我国制造业全球布局的特征以及制造业对外直接投资区位选择中存在的问题。通过量化区位条件的各项指标,本文以2007-2014年我国制造业对五个主要经济体的投资流量作为被解释变量,运用面板数据固定效应模型对影响制造业OFDI区位选择的各个区位条件进行了实证研究。总体回归结果表明东道国GDP规模、双边贸易总量、技术水平、两国地理距离与我国制造业对外直接投资流量存在较强的相关性,东道国工资水平、基础设施状况、经济自由度、汇率水平对区位选择的影响并不显著。分类回归结果表明劳动力资源寻求型的对外直接投资更侧重工资水平、经济自由度等区位条件；自然资源寻求型的对外直接投资更侧重东道国经济规模、双边贸易总量等区位条件；技术寻求型的对外直接投资更侧重东道国经济规模、技术水平等区位条件。因此,从国家层面上来说,制造业对外直接投资的区位选择应兼顾对发达国家和地区的“上行投资”与对发展中国家与周边地区的“下行投资”。从微观层面来说,企业在进行对外直接投资时应立足于自身竞争战略,在掌握东道国法律及投资规则的前提下,科学谨慎地选择投资区位。
[Abstract]:The ongoing fragile recovery of the world economy, especially since the outbreak of the financial crisis, has placed the strategy of re-industrialization, both in developed and developing countries and in emerging economies, at the heart of the revitalization of manufacturing. The latter has become the focus of global economic competition. At present, the scale of our manufacturing industry has leapt to the first place in the world. A number of competitive industries and backbone enterprises have been formed. The strength of China's manufacturing industry has led enterprises to make foreign direct investment (FDI) to expand the international market. Among them, location is the main body of the industry carrying investment. Location selection is an important condition for FDI to gain income and expand. This paper combs the existing theories of international direct investment (FDI), the theory of location choice, and combines the different motives of FDI in manufacturing industry of our country. This paper constructs an analytical framework of location choice, which takes investment motive, location factor, location condition and location choice as the logical thread, and collates the stock of FDI in manufacturing industry in recent years in a large number of statistical data. This paper summarizes the characteristics of the global distribution of manufacturing industry in China and the problems existing in the location selection of outward direct investment of manufacturing industry. This paper uses China's manufacturing investment flows to the five major economies from 2007 to 2014 as the explanatory variables. Using panel data fixed effect model, this paper makes an empirical study on the location conditions that affect the location selection of manufacturing OFDI. The overall regression results show that the host country's GDP scale, bilateral trade volume, and technology level. There is a strong correlation between the geographical distance of the two countries and the outward direct investment (FDI) flow of China's manufacturing industry, the wage level of the host country, the condition of the infrastructure, the economic freedom, The effect of exchange rate level on location choice is not significant. The result of classification regression shows that the seeking FDI of labor resources is more focused on the location conditions such as wage level economic freedom and so on. The foreign direct investment based on natural resources is more focused on the regional conditions such as the scale of the host country's economy and the total amount of bilateral trade, while the foreign direct investment of the technology seeking type pays more attention to the regional conditions such as the scale of the host country's economy and the level of technology. At the national level, the location choice of FDI in manufacturing industry should be balanced between "upstream investment" in developed countries and regions and "downward investment" in developing countries and surrounding areas. Enterprises should base themselves on their own competitive strategy and choose the investment location scientifically and prudently under the premise of mastering the laws and investment rules of the host country when carrying out foreign direct investment.
【学位授予单位】：上海社会科学院
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F424;F125

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